TAT Technologies (NASDAQ:TATT) Stock Gets Price Target Trim from B. Riley Financial

TAT Technologies (NASDAQ:TATT) had its price objective decreased by equities research analysts at B. Riley Financial from $65.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. B. Riley Financial‘s target price suggests a potential upside of 82.04% from the stock’s current price.

Several other equities analysts have also issued reports on the company. William Blair restated a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Benchmark reiterated a “buy” rating on shares of TAT Technologies in a research report on Tuesday, August 25th. Finally, Weiss Ratings lowered TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, TAT Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

TAT Technologies Stock Up 0.9%

Shares of NASDAQ:TATT opened at $32.96 on Wednesday. The stock’s 50-day moving average price is $35.88 and its 200-day moving average price is $42.75. TAT Technologies has a 12-month low of $30.47 and a 12-month high of $64.50.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $52.94 million during the quarter, compared to analysts’ expectations of $44.86 million. On average, equities research analysts predict that TAT Technologies will post 1.40 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of TAT Technologies in the second quarter worth $21,213,000. Wasatch Advisors LP lifted its holdings in shares of TAT Technologies by 35.1% during the second quarter. Wasatch Advisors LP now owns 768,702 shares of the aerospace company’s stock valued at $37,074,000 after purchasing an additional 199,622 shares in the last quarter. Stephens Investment Management Group LLC bought a new position in shares of TAT Technologies during the first quarter valued at $7,733,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of TAT Technologies by 26.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 456,640 shares of the aerospace company’s stock valued at $18,405,000 after buying an additional 95,756 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of TAT Technologies by 14.9% during the first quarter. Renaissance Technologies LLC now owns 203,402 shares of the aerospace company’s stock valued at $8,264,000 after buying an additional 26,400 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

TAT Technologies Company Profile

TAT Technologies Ltd. is an aerospace and defense company headquartered in Netanya, Israel. The company develops, manufactures, and services thermal-management and other specialized systems used in commercial, military, business, and general aviation applications.

Its product portfolio includes heat exchangers, air-conditioning and environmental-control components, air-cycle machines, pre-coolers, oil coolers, fuel heaters, pumps, and related aircraft systems. TAT also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, auxiliary power units, landing-gear components, and other aviation parts.

Through its operations in Israel and the United States, TAT Technologies serves aircraft manufacturers, airlines, aerospace and defense contractors, and government customers.